See the latest Livestock, Dairy, and Poultry Outlook report.
Report Summary
Dairy: Based on recent data, the 2025 forecasts for milk production have increased to 227.3 billion pounds. Wholesale dairy product prices and milk prices are also revised upward, with the all-milk price forecast at $21.60 per hundredweight (cwt), a $0.50 increase from the previous forecast. In 2026, milk production is expected to grow to 227.9 billion pounds due to a larger dairy herd and slightly improved milk per cow. Wholesale dairy product prices and milk prices are forecast at lower levels in 2026 than in 2025. The 2026 all-milk price is projected to average $21.15 per cwt, $0.45 lower than the 2025 forecast.